Liquidation firm REACHS & PARTNERS announced on September 29 that it has officially begun liquidation proceedings for Dragonfly Fintech (Cambodia) Plc and its e-wallet brand, Payluy. The National Bank of Cambodia formally appointed REACHS & PARTNERS as the liquidator on September 21.
Dragonfly Fintech had been operating Payluy locally since around 2019 under a third-party payment service license issued by the central bank. The liquidation process marks the formal end of its operations in the Cambodian market.
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